Kenon (NYSE:KEN) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

Kenon Holdings Ltd. (NYSE:KEN) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $32.00 and traded as high as $32.27. Kenon shares last traded at $31.77, with a volume of 9,751 shares traded.

Kenon Stock Performance

The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 9.93 and a beta of 1.33. The stock has a 50 day moving average price of $32.00 and a two-hundred day moving average price of $29.29.

Hedge Funds Weigh In On Kenon

Institutional investors have recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd boosted its stake in Kenon by 3.3% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,782,978 shares of the utilities provider’s stock worth $92,868,000 after acquiring an additional 88,762 shares during the last quarter. Vanguard Group Inc. raised its holdings in Kenon by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 759,732 shares of the utilities provider’s stock worth $25,370,000 after purchasing an additional 15,249 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Kenon by 11.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider’s stock worth $14,214,000 after purchasing an additional 43,694 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Kenon by 6.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 267,618 shares of the utilities provider’s stock valued at $8,972,000 after buying an additional 15,677 shares during the period. Finally, Y.D. More Investments Ltd increased its position in shares of Kenon by 2.8% in the 4th quarter. Y.D. More Investments Ltd now owns 206,333 shares of the utilities provider’s stock valued at $6,885,000 after buying an additional 5,705 shares in the last quarter. 13.38% of the stock is currently owned by institutional investors and hedge funds.

About Kenon

Kenon Holdings Ltd., through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel, the United States, and internationally. It operates through OPC Power Plants, CPV Group, and ZIM segments. The company engages in the generation and supply of electricity and energy; development, construction, and management of solar and wind energy, and conventional natural gas-fired power plants; and provision of container liner shipping services.